SpiceJet presents revival plan to govt

New Delhi, December 22

Struggling budget carrier SpiceJet has presented a revival plan to the government, which will be discussed with oil companies and banks before taking a final decision regarding the airline, official sources said today.

The airline’s original investor Ajay Singh is in discussion with two US-based private equity investors to get them onboard but it will take a while before the proposal takes a concrete shape.

“SpiceJet has already presented a revival plan to the Civil Aviation Ministry, which will now discuss it with other stakeholders like the oil companies and banks,” the sources said.

The airline has also sought credit payment facility of 15-30 days by the oil companies on the lines on the one provided to other airlines in the country, according to the sources.

SpiceJet’s dues to foreign and Indian vendors, airport operators and oil companies currently stand at Rs 1,230 crore, Minister of State for Civil Aviation Mahesh Sharma informed the Lok Sabha today in response to a written question. — PTI